News:
Brokerage
Posted: November 6, 2009
Cambridge provides $12.9 million HUD 232 loan to refinance 136-bed facility
Cambridge Realty Capital Cos. has provided a $12.9 million FHA-insured first mortgage loan to refinance the Renaissance Care Center of Canton, a 136-bed skilled pediatric and skilled nursing home facility.
Cambridge chairman Jeffrey Davis said the fully amortized, 40-year term loan was arranged for the owner, an Illinois limited liability company. It was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge subsidiary that underwrites HUD Section 232 funding programs.
Davis said the loan also financed rehabilitation and the construction of a new addition. The property currently has 69 skilled pediatric and 76 skilled nursing units/beds.
Tags:
Brokerage
MORE FROM Brokerage
United Properties Corp. expands Wisconsin and Illinois retail presence adding 200,000 s/f
West Allis, WI United Properties Corp. completed two retail acquisitions totaling $27.4 million across Illinois and Wisconsin, adding 205,000 s/f of shopping center space to its portfolio
Quick Hits
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
.gif)